lets see...
yes this is how it is...they are paying for a right to come onto a specific part of your property and use it for a specific reason, but it remains your property. a good example of an informal easement is if, say your house is on the way to the neighborhood pool and the kids always cut across a corner of your yard. if you were to go out and say, 'hey kids! i give you permission to walk on this path to get to the pool.' then you have given them an easement. they can use that path, to go to the pool. they can't run through your yard and they can't sell the path to someone else cause its still your yard. this is a bit extreme, but it gives you an idea.
since VA DOT is a government agency, they can, through eminent domain, force you to grant an easement, but they have to pay you a fair price for the use of it. that can differ, but its usually fair market value...would need more specifics to be able to advise on acceptable price. if they are paying you 40% of what you could get if you sold that piece of property outright, that seems pretty fair, cause once the sewer is in, you won't be able to tell and your use of that land will be restricted only in that you can't do anything to hurt the sewer or prevent access to it....so no building a tennis court over it, but you could put lawn furniture there or however you use that part of your yard.
It will change your deed, but something like this isn't going to have a bad effect on the deed.
yes the next owner will know.
and it shouldn't have a negative effect on you when selling your house, in fact, it might help prices as there will now be a public sewer system available or at least more up to date in the neighborhood
p.s. i tried to stay away from legal jargon, so you could understand what i was saying. the laws of easements and covenants are complex, but this is a full answer for your situation.
pps. i just saw the answer that mike s gave. he doesn't know what he's talking about. maybe his easement is 10 feet at the edge of a yard, but an easement is the size that's agreed upon between the parties. and paying for it is required by not just any law, but by the US Constitution. the government has the power of eminent domain, but they have to reimburse for it. I do give him that they are not likely to clean up very well after the work is done, so just insist on that when you create the easement. have it included that they must landscape and lay sod so that the visual impact of the yard is not altered.
pps. THIS IS NOT SOMETHING YOU SHOULD ALLOW TO HAPPEN WITHOUT LEGAL COUNSEL AIDING YOU!!!! DO NOT SIGN ANYTHING WITHOUT TAKING IT TO YOUR LAWYER. YOU ARE ASSUMED TO HAVE READ AND UNDERSTOOD ANY CONTRACT YOU SIGN, WHETHER YOU HAVE OR NOT, SO IN 5 YEARS WHEN YOU'RE TRYING TO FIGHT THE RAMIFICATIONS OF THE EASEMENT, "I DIDN'T READ IT" OR "I DIDN'T UNDERSTAND IT" ISN'T GOING TO FLY. THE JUDGE WILL SAY, "BUT YOU SIGNED IT?"
2006-06-22 05:09:04
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answer #1
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answered by ladylawyer26 3
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I am a Realtor.
The actual definition of easement is: A right created by grant, reservation, agreement, prescription or necessary implication to use someone else's property.
It could be the strip of land that the city usually uses to run gas, water, sewer, or electric piping, etc. It could be a road through a property to access another property. It really depends on the situation. Most easements are the first 8-10 feet of a property from the street inward for those things I mentioned.
Take, and enjoy the money! It shouldn't effect your property value if you don't make a big deal out of it when, or if you decide to sell your property. You should, however, try to negotiate for more than 40%, if possible in your jurisdiction!
Then, take that money and invest it in something like remodeling, retirement, or college fund. Especially since it was unexpected!
2006-06-22 04:56:15
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answer #2
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answered by Forefather 1
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Easements are very common. Nearly everybody's property has easements unless they live out in the middle of nowhere. It means that a municipality can have access to your property for purposes such as this. Often, easements are also for power lines, etc across property. It will probably become a change to your deed so it is a matter of record.
Actually people who live along streest and highways have easements that they are not aware of unless they check the original deed. When property is sold the wording is typically something like, "the property is transferred subject to all existing easments and rights of way" meaning that the easements and rights are not re-described in each subsequent sale of the property.
2006-06-22 04:51:37
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answer #3
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answered by Anonymous
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An easement is an area approximately 10 feet of the edge of your property, that is marked in case sewer, electric, water companies reserve the right for future use. You own it but they can use it. The VA offering you money I think is rare because they could use the imminent domain clause and just do what they need to do. It shouldnt affect your property resale value but be warned, when they do the work they will tear up your yard, and half assed make it look good when they are done. hope this helps.
2006-06-22 04:55:04
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answer #4
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answered by Mike S 2
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An easement gives another party access to part of your property for a certain purpose. Even "air rights" can be sold. The easement is transferred with the deed. See a lawyer or Realtor for all of the details.
Extensive article in "Wikipedia."
2006-06-22 04:54:10
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answer #5
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answered by helixburger 6
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from my understanding of real estate law studies an easement is only the right of access onto a person's property so that they are not trespassing.it does not change ownership .
2006-06-22 05:20:12
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answer #6
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answered by slysandlin@verizon.net 1
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You first must distinguish between what is considered a physical property versus a chemical property. Physical Properties pertain to the substance itself and involve the quantitative and qualitative observations. Example: melting point, density, mass, colour, malleability, lustrous appearance, boiling point, etc. Chemical Properties pertain to the behaviour of that substance with another. Example: reaction with oxygen, reaction to a flame, and so on. Hope this helps. Good Luck.
2016-03-27 00:59:45
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answer #7
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answered by Anonymous
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In LAW, a legal interest in real property that grants the right to use in some specified manner the property of another; often, specified the right to enter upon a pass over anothers land. ...
IT MAY NOT hurt to check with your courthouse. say the property valuations office...
2006-06-22 04:57:45
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answer #8
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answered by mom of a boy and girl 5
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AN EASEMENT IS USUALLY THE RIGHT OF OTHER PEOPLE TO USE YOUR PROPERTY FOR ACCESS TO THEIR PROPERTY, YOU STILL RETAIN OWNERSHIP TO THE LAND AND STILL MUST MAINTAIN IT AND PAY TAXES ON IT EVEN THOUGH OTHERS ARE PERMITTED TO USE YOUR PROPERTY
2006-06-22 04:47:54
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answer #9
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answered by ? 7
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so can you build on it if there is an easement?could you put a pool on it?
2015-08-24 08:33:37
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answer #10
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answered by teresa 1
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